Iran (IMNA) - In a late-night TV interview, Deputy Oil Minister Mohsen Khojasteh Mehr stated that the National Iranian Drilling Company has stationed installed two of its platforms in the Kish gas field in the Persian Gulf and will begin drilling for natural gas there very soon.
According to Khojasteh Mehr, Iran plans to invest a total of $7 billion to completely develop Kish gas field in four stages over the course of the following four years, with the goal of achieving a daily production of 120 million cubic meters (mcm) from the field.
He stated that the first phase of the project will be operational in 14 months with a $900 million investment, adding 28 million cubic meters per day to Iran's natural gas supply.
The Kish gas field, located near Iran's island of Kish, holds 1.4 trillion cubic meters of gas in place.
The world's largest gas field, South Pars, which spans the maritime boundary between Iran and Qatar in the Persian Gulf, provides more than 700 million cubic meters of the country's daily gas production.
According to Khoajasteh Mehr, Iran invested $85 billion on South Pars in the years after Islamic Revolution, with $22 billion spent in the years following 2011, when Iran was dealing with sanctions aimed at restricting its access to foreign investment and technology.
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